GOLD AND COPPER EXPLORATION IN ECUADOR
Gold & Copper
TSXV: ARU, OTCQB: AUIAF,
Aurania is a junior exploration mining company engaged in the identification, evaluation, acquisition and exploration of mineral property interests, with a focus on precious metals and copper. Its flagship asset, The Lost Cities – Cutucu Project, is located in the Jurassic Metallogenic Belt in the eastern foothills of the Andes mountain range of southeastern Ecuador.
- Strong management with discovery history of world-class deposits in Ecuador, along strike: CEO Keith Barron and team discovered Fruta del Norte gold deposit in 2006; President Richard Spencer and team discovered Mirador, San Carlos and Panantza porphyry copper between 1994 and 1997
- Large, unexplored 2,080 square kilometer property in Ecuador, 100%-owned in the geological extension of the Cordillera del Condor with its large gold and copper deposits
- Management has over 10 years of in-country experience (plugged into Ecuadorian government and key players)
- 10+ year extensive historical study of old Spanish gold mines, the “lost cities”, that operated for about 40 years in the 16th Century in the Lost Cities Project area
- airborne geophysics completed over entire property, stream sediment sampling completed over 20% of the Project area. To date:
- 7 epithermal targets identified for gold-silver;
- Multiple porphyry copper targets identified;
- Scout drilling planned to commence by end of 2018
- Exceptional community engagement program, respected by the government; building strong relationships with local communities through community consultation, training and employment of local people
- Management and board all successful industry veterans who have serious ‘skin in the game’
Share Price Performance
Directors & Management
Keith Barron – CEO and Chairman
Richard Spencer – President and Director
Elaine Ellingham – Non-Executive Director
Gerald Harper – Non-Executive Director
Marvin Kaiser – Non-Executive Director
Alfred Lenarciak – Non-Executive Director
Management and Board – 60%
Lost Cities – Cutucu Project
The Lost Cities – Cutucu Project is located in the southeastern part of the Republic of Ecuador, in the Province of Morona-Santiago. It consists of circa 208,000 hectares in 42 concessions occupying the central part of the Cordillera de Cutucu. The concessions extend approximately 95 km along the Cordillera.
The Lost Cities – Cutucu Project
- Historical information led to staking of 208,000 Hectares (2,080km2);
- Concession area is along-trend of a very well-endowed mineral belt that contains 26 million ounces of gold and 30 billion pounds of copper in NI43- 101 resources;
- The 2,080km2 area has never been systematically explored with modern techniques.
The Cutucu mountain range is the geological extension of the Cordillera del Condor that hosts ten major deposits (gold and/or copper) with recent announcements by various exploration companies highlighting the additional mineral potential of the geological trend.
Exploration Progress – indicates multiple targets:
- A Landsat imagery study has that focused on the tectonic framework of the Cordillera de Cutucu with specific emphasis on identifying pull-apart basins. The large, rich, Fruta del Norte Deposit in the adjacent Cordillera del Condor formed within a pull-apart basin;
- A heliborne magnetic and radiometric survey covered the whole concession area and environs, designed to identify porphyry systems – the prime copper targets in the belt. These deposits typically have a magnetic core that can be detected in airborne surveys;
- Stream sediment sampling: metal enrichment within the catchment basin of a stream can be identified by chemical analysis of the sediment load of the stream. Stream sediment sampling has been completed over 20% of the Project area;
- Ridge-and-spur sampling: soil samples are taken along the crest of ridges in the part of the catchment basin that has been identified as metal-rich, refines the location of the target, and the combination of elevated metals provides insight as to the nature of the target. Ridge-and-spur sampling has been completed over three targets;
- Grid sampling: sampling of soils in a regular grid cut in the jungle provides specific detail on the position and shape of each target. This has been completed over one target; and
- Detailed geological work aims to refine the details of the target in preparation for scout drilling. The “Crunchy Hill” target is being readied for scout drilling in Q4, 2018. Other targets will be readied for scout drilling sequentially after Crunchy Hill.
In the contiguous mineral belt, Management has discovered 18Moz gold of the belt’s 26Moz and 23Blbs of copper of its 30Blbs:
The concept of scout drilling is an integral part of Aurania’s business model. Scout drilling – typically the drilling of approximately five bore holes of approximately 300 metres each. The crucial exploration data provided by the scout drilling will be used to rank the targets to determine which are in Aurania’s sweet-spot for advancement and which would be better advanced within a joint venture or potentially spun-out into another company.
Left: CEO, Keith Barron in the field at Aurania’s Crunchy Hill target;
Right: vuggy silica found at Crunchy Hill